Which term do economists use to refer to a difference in wages that arises from nonmonetary characteristics of different jobs?
A)non-pecuniary differentials
B)compensating differentials
C)fundamental differences
D)idiosyncratic differences

Question

Quizplus · Accepted Answer

Compensating differentials refer to wage differences that arise to compensate workers for nonmonetary aspects of different jobs, such as risk, inconvenience, or undesirable conditions.

Which Term Do Economists Use to Refer to a Difference